Headphones work but not my microphone

Try Setting up a headset adapter. This helps if the
3.5mm socket is faulty and also Update
your controller firmware are two support links for further steps to take.

Can you also try a different controller to check the headset or 3.5mm jack female pin to see if it's the headset or controller?. A break in the headset cable can cause this or a broken pin on the controller can also cause this error.

I should note that the headphone audio is working perfectly. It's just the microphone.

This sort of works. But it only works if:

1. When I plug my Xbox headset into the microphone port on the back of my motherboard, which prompts a Realtek popup in the lower-right hand of the screen which prompts me to select what I plugged in: headphones, microphone, or line-in. I select "Microphone".

2. I specify the Host in Audacity as MME.

Then I can record audio into Audacity. However, I can't listen through my Xbox headset because it's plugged into the microphone port and assigned as a microphone, not as an output device like a headphone.

So I still need to know how to use this Xbox Stereo headset to record Audacity and listen to my audio simultaneously.

Thanks for helping to try solving it and I did try out those two things but the thing is when I plug my headphones in nothing happens like when my headphone speakers are working the laptop recognizes it as its own speaker that is already on the laptop and the microphone is the laptop microphone and I can't set anything to headset device if it isn't there but my laptop which is the HP EliteBook 8470p Notebook PC (ENERGY STAR) can support both microphone and sound at the same time